Current English Premier League champions Manchester City have closed in a deal to complete their takeover of the Indian Super League (ISL) team Mumbai City FC.
According to a report in Daily Mail, the parent company of Manchester City the City Football Group (CFG), which owns seven football teams worldwide, could unveil the Indian side in the next 48 hours as their latest addition.
The CFG, on Tuesday, had announced a £389million million investment from a United States private equity firm Silver Lake and hinted their interest to spend money in India.
However, the news doesn’t come out of the blue as there have been words going on for sometimes that the CFG officials were in talks with their counterparts of the Ranbir Kapoor-co-owned club.
A report in British tabloid Mirron had said in September, “The City Football Group have held talks with a number of Indian clubs as they seek to expand their global reach. Mumbai City are now their preferred choice and negotiations with the club’s CEO Indranil Das Blah are almost complete.”
Mumbai City will be the eighth club under the umbrella of CFG which already shelters US club New York City FC, Australian side Melbourne City, Uruguay’s Club Atletico Torque and Chinese team Sichuan Jiuniu alongside English champions Manchester City.
The multi-billion-dollar sports franchise also holds a stake in Spain’s Girona and Japanese club Yokohama F Marinos. After the deal with Mumbai. the Daily Mail report suggests that the group will be looking to acquire business in Brazil and Mexico as well.
With almost 1500 footballers in their ranks, the CFG is also expected to expand their worldwide football schools which focus on training both coaches and players.